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Taxes : Business & Finance
When and How to File 1099 Misc Form?
There are various forms for filing taxes in the US. Out of all these there's one very important one called 1099 misc form. It is used to report miscellaneous incomes to the government. If you ...
Still No Fruitful Results
Constitution Amendment Bill for GST," [Mr. Raghavji, MP Finance Minister] "The new constitution amendment draft proposed by the Government of India is completely against the fiscal federalism." The Centre has framed a draft Constitution Amendment Bill for the roll out of the Goods and
How to Maximize Deductions for Income Tax Filing
Maximizing deductions for tax filing always benefits a taxpayer. The more deductions a taxpayer has, the less tax is owed. Deductions come as mortgage interest paid, as charitable donations and any medical expenses incurred during the tax year. Taxpayers who itemize deductions can do several small
How To Get A Bigger Charitable Deduction For Your Church Contribution
Nearly every church member is due a bigger charitable tax deduction than they realize. Check to see if you qualify for additional deductions you may have overlooked.
Year-End Tax Planning Tips You May Want to Avoid
It's that time of year when we get bombarded with year-end tax planning tips. You'll see them on the web, in the newspaper, on television, and just about everywhere you look. I read a top 10 list this morning that made me cringe!
Three of the Quirkiest Tax Write-Offs Ever
CPA's are experts in tax codes and regulations. As a result, they can help the average American find bizarre tax write-offs for their unique situations.
How to Invest Within an IRA
The individual retirement account (IRA) is a tax advantaged investment account designed to giver a taxpayer a way to both save for retirement and direct the investment choices themselves, should they so desire. Introduced in 1974, the IRA was initially designed to giver retirement savers who were no
What Is the Difference Between Federal Withholding Tax & FICA?
The distinction between the different deductions taken from a paycheck can be confusing. In fact, federal withholding and FICA withholding are often confused, but they are separate deductions, and it's important to understand the difference between them.
How to File Taxes as a Contract Worker
As a contract worker, you will be responsible for paying taxes during the year. Estimated Tax and Self-Employment Tax may be paid quarterly or annually depending on the amount you earn. Maintain accurate payroll records during the year to make paying taxes easier. Refer to IRS.gov to remain updated
Are Trips to Check Rental Property Deductible?
If you own rental property, virtually every cost you incur to maintain or improve it amounts to a tax deduction. Whether you live down the street or across the country from your rental property, you can indeed deduct the cost of trips, so long as they are documented, ordinary and necessary.
Experiencing Tax-Induced Anxiety?
Breathe a little easier knowing that filing a 2012 income tax return doesn't have to be a dreaded experience. Get guidelines from an IRS Enrolled Agent to shed light on commonly asked questions.
S Corporation Tax Tips - How to Report Deductions on Form 1120S
If you own an S Corporation, you must file Form 1120S every year to report the income and expenses of your small business. The purpose of this article is to help you properly report all the legitimate expenses you are entitled to take. Like any business owner, you are in business to make a profit. B
How to File an Appeal for Foreclosure in California
Only judicial foreclosures can be appealed in California. Many foreclosures in California are through a "non-judicial process," and therefore cannot be appealed in court. However, for a bank or mortgage holder to use a non-judicial process, there must be a power of sale clause in your mortgage or de
Capital Allowances and Section 183 Elections
When buying or selling a property, it is important to bear in mind what happens to the capital allowances. Given the potentially large amounts of money involved, it is important to be sure of your position. This applies to both buyers (lessees) and sellers (lessors).
Business Basics: Understanding Breach of Contract
Breach of contract is an important provision in business lawsuits. Breach of contract is defined, how a breach of contract comes about, defenses against breach of contract, and remedies if breach of contract has been determined by the court.
How to File Your Own Taxes
The process of filing taxes starts when you receive your W-2, 1099, interest and dividends earned statements, and tax booklet. You can download the needed forms from the IRS website. Practice doing your taxes on a sheet of paper before completing the tax form. Though this article concerns Form 1040-
Service Providers be ready to fulfill the Dream of Modi's ‘Swachh Bharat'
It is a regular practice of the government to follow tactics that are illusive and misleading. One of the tricks adopted by the government while increasing the rate of service tax is that during the B
Negative Gearing a Legitimate Tax Lowering Tool
The tax department is the Robin Hood of the current century! It robs from the ignorant and gives to the well informed. Tax laws are in a constant state of flux. Sometimes loopholes open up and then they are closed.
Pennsylvania Inheritance Tax on the Transfer of Property Before Death
The state of Pennsylvania has an inheritance tax as part of its law, which generally taxes your estate after death, before things are transferred to your heirs. However, there are some transfers that take place before your death that are still subject to the inheritance tax.
How to File My Federal Taxes by Mail
The Internal Revenue Service offers taxpayers different ways to file their federal income tax returns. Increasingly popular is the method of electronic filing, which allows taxpayers to receive their refunds faster. Taxpayers who elect not to electronically file using a computer can simply mail thei